Bigrob
TUG Member
Okay, I will admit to posting a provocative title in an effort to elicit more views. Guilty as charged.
Now, ordinarily, a title like this would not necessarily be "provocative". But I know that many people have had negative experiences with this outfit, and until recently, I was one of the few who had not been "burned" - at least not badly. That has changed recently.
I have purchased a number of contracts with these guys, and several went through fine. Recently, however, there have been a number of issues.
The most recent failures have been unforgivable and I have been, I'm afraid, a little too patient. The big problem is on an Ocean Boulevard 292,500 contract they sold me in early March. I have asked several times for updates, each time being told something different, ("I am taking over this contract transfer for you now... Wyndham title had left for the day when I tried to reach them"... etc.) When I finally called Wyndham directly myself (unfortunately Wyndham has made it more difficult lately for resale buyers to get updates, as they want to just provide weekly spreadsheet updates to the mass resellers rather than deal directly with us) - I found that the contract was no longer active or transferrable, and that this has been known since May. I also found out that despite the claim by Luky987's/WWPT's closing company, "In Less Time Closings" or ILTC, no estoppel had ever been requested. Additionally, I have another deed with them for Smoky Mountains that they have submitted 3 times, each time having it rejected as defective due to issues that should have been addressed.
In the course of discovering this, I also had the distinct displeasure of waiting on hold on a Thursday afternoon for 45 minutes when calling ILTC - to be told that the closing company portion is only open on Tuesday and Wednesday! So - given the volume these guys do, how comfortable can any of us be - no matter how diligent they might be - that they can do everything with all due diligence in only 2 days a week? Yikes.
So I join the ranks of many others in having problems with these guys. Ironically, I have been blocked by WWPT from bidding on their auctions - which most certainly affirms the relationship between WWPT and Luky987 and In Less Time Closings.
Eventually I still think I'll get the funds (for Ocean Blvd) and/or contract (Smoky Mountains) but this has just been waaaaay too painful to repeat. And I am evaluating legal/criminal options as I have not received any responses over the past two weeks... toward that point, has anyone filed with FBI through the IC3 process for internet fraud against these guys? In the case of selling something they don't actually have to sell (this has happened to me twice with these guys now) and holding funds for 6 months, I do think it fits the category of internet fraud.
Now, ordinarily, a title like this would not necessarily be "provocative". But I know that many people have had negative experiences with this outfit, and until recently, I was one of the few who had not been "burned" - at least not badly. That has changed recently.
I have purchased a number of contracts with these guys, and several went through fine. Recently, however, there have been a number of issues.
The most recent failures have been unforgivable and I have been, I'm afraid, a little too patient. The big problem is on an Ocean Boulevard 292,500 contract they sold me in early March. I have asked several times for updates, each time being told something different, ("I am taking over this contract transfer for you now... Wyndham title had left for the day when I tried to reach them"... etc.) When I finally called Wyndham directly myself (unfortunately Wyndham has made it more difficult lately for resale buyers to get updates, as they want to just provide weekly spreadsheet updates to the mass resellers rather than deal directly with us) - I found that the contract was no longer active or transferrable, and that this has been known since May. I also found out that despite the claim by Luky987's/WWPT's closing company, "In Less Time Closings" or ILTC, no estoppel had ever been requested. Additionally, I have another deed with them for Smoky Mountains that they have submitted 3 times, each time having it rejected as defective due to issues that should have been addressed.
In the course of discovering this, I also had the distinct displeasure of waiting on hold on a Thursday afternoon for 45 minutes when calling ILTC - to be told that the closing company portion is only open on Tuesday and Wednesday! So - given the volume these guys do, how comfortable can any of us be - no matter how diligent they might be - that they can do everything with all due diligence in only 2 days a week? Yikes.
So I join the ranks of many others in having problems with these guys. Ironically, I have been blocked by WWPT from bidding on their auctions - which most certainly affirms the relationship between WWPT and Luky987 and In Less Time Closings.
Eventually I still think I'll get the funds (for Ocean Blvd) and/or contract (Smoky Mountains) but this has just been waaaaay too painful to repeat. And I am evaluating legal/criminal options as I have not received any responses over the past two weeks... toward that point, has anyone filed with FBI through the IC3 process for internet fraud against these guys? In the case of selling something they don't actually have to sell (this has happened to me twice with these guys now) and holding funds for 6 months, I do think it fits the category of internet fraud.
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